Cargill India’s Gemini brand forays into rice bran oil segment

Cargill India Tuesday announced foray into the rice bran oil segment through its Gemini brand, and said it is looking to grab 10 percent market share in the segment in Maharashtra within one year.

The company expects the new segment to contribute 2.5-3 percent to its overall revenue

According to a PTI report: The company expects the new segment to contribute 2.5-3 percent to its overall revenue.

“Health oil is an emerging segment. As our biggest market for Gemini is Maharashtra, we will initially launch in the state, as well as Karnataka,” Milind Pingle, Director – Sales and Marketing, Cargill Food Business India, told PTI.

“We expect to achieve 10 percent market share in Maharashtra in one year in the rice bran oil segment,” he was further quoted by PTI as saying.

The company will source rice bran oil from a third party in Dhuri in Punjab, according to Pingle.

The total rice bran market in the country is one lakh tonne annually, while the total market in Maharashtra is 20,000 tonne per year, he said.